Drewe v. Applied Efforts
Jun 06, 2017OUTCOME: Verdict for Plaintiff
Plaintiff Drewe loaned $225,000 to Applied Efforts, purportedly for the development of technology. Except for a small sum, most of the money was never repaid. The principal owner of Applied Efforts sig ... ned a personal guaranty for the note. A former friend of Plaintiff had connected Plaintiff with the Company and convinced Plaintiff to make the loan. The former friend also signed a guaranty. After a trial, the Court held that the promissory note and guaranties were valid contracts. The Court also found that the former friend negligently misrepresented information about the company and its principal owner. The total verdict for the Plaintiff was approximately $900,000 after the amount of the note, interest, and attorney's fees.
